2H Offshore has designed and launched a new engineering critical assessment (ECA) software: FlawIQ. FlawIQ is a comprehensive tool that automates both BS7910 and API 579 procedures, making it faster and simpler to perform accurate fatigue assessments for offshore components…
Exmar and Pacific Exploration and Production (formerly Pacific Rubiales) have agreed to terminate a liquefaction and storage agreement, originally executed in March 2012 for a term of 15 years from delivery of a floating liquefaction unit (CFLNG) with a liquefaction capacity of approximately 0…
Ratings house Moody's issued a damning report on the health of some of the industry's top offshore drillers following a review. Out of six US offshore drilling companies, it has downgraded two by three notches, three companies' ratings…
Due to the low oil prices heard around the world, Mexico’s Pemex is cutting its budget by a massive US$5.52 billion ($100 billion pesos) to help meets its financial goal by deferring and dropping less-urgent projects. Undersecretary…
Dutch firm Boskalis has signed a letter of intent (LOI) to acquire offshore activities from VolkerWessels. Under the offer, Boskalis will acquire maritime and offshore wind energy related activities of VolkerWessels, namely VBMS, Stemat and VSI (Volker Stevin International)…
With a weak start of the year for CGG, the French seismic company will reduce its fleet by another three vessels by the end of Q1, as its revenue dropped 32% from 2014. The Oceanic Vega. Image from CGG…
Anadarko is reducing its capital investments by nearly 50%, and plans to monetize up to US$3 billion of assets, as the company focuses on its offshore assets in the Gulf of Mexico, and off Africa. Mozambique operations…
The floating rig market is preparing for the most challenging year ahead. Leslie Cook, of Quest Offshore, explains. Noble Corp. announced in Q1 it would retire the Noble Discoverer drillship after…
BSEE has proposed a new well control rule that the agency says will make operating in the Gulf of Mexico safer. But, the industry disagrees, and now it has two studies to prove it. Audrey Leon sets out the detail. At…
The UK oil and gas industry could release more than five million man hours each year if the sector standardized and simplified safety practices. The sector could recover as much as one hour of work per day per person at worksites through…
Current oil prices does little to support exploration and expanding developments. However, keeping an eye on the future, sub-saharan African nations show promise. Western African countries, such as Nigeria, have already seen the benefits…
Most of the news in the rig market is bad, but there are bright spots if you look hard enough. Audrey Leon sets out the details. Image from OE Staff. Not much has changed for…
Oil production in the US Gulf of Mexico (GoM) will reach record high levels in 2017, due to some 14 projects starting up during 2015-17, despite low oil prices. Anadarko's Heidelberg. Image from Anadarko…
Three of Latin America’s top oil and gas companies, Pemex, Ecopetrol, and Petrobras, gathered to speak in Houston this morning at IHS CERAWeek with a mirrored message that echoes in the industry across the world: the main challenges that…
In the Gulf of Mexico, Chevron is putting its focus on its deepwater assets, and is on the fast-track to sell its shelf assets in the area, as the company looks to divest up to US$10 billion in the next two years. Big Foot…
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